Discreet Logic Comments On Stock Activity; Affirms Disclosure Policy.MONTREAL, Quebec--(BUSINESS WIRE)--March 24, 1998--Discreet Logic Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DSLGF) announced that, while it is the Company's policy not to comment on market rumors or speculation concerning the Company's stock price or financial results, Nasdaq Market Surveillance has requested that Discreet Logic comment on the recent activity in the Company's stock. In accordance to that request, Francois Plamondon, Executive Vice President and CFO See Chief Financial Officer. of Discreet Logic Inc., indicated that, "the Company is not aware of any development related to its business which would account for the trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. and price volatility of the Company's stock on Friday, March 20 and Monday, March 23. "The Company believes that it enjoys strong business fundamentals business fundamentals The general background within which an economy operates including earnings, sales, wage rates, taxes, and inflation. Improving business fundamentals are generally viewed as bullish for stocks, although stock prices at any given point and intends to keep moving forward with the execution of its growth strategy, as previously communicated. The Company does not publicly project future financial performance and does not plan to do so in the future." The Company's current quarter ends on March 31, 1998, and expects to release its earnings during the last week of the month of April. Discreet Logic Inc. develops advanced systems and new media software that are used in the creation of digital imagery and serve three key markets: visual effects, editing and production. Artists, editors and designers use Discreet Logic's products to develop imagery for video, broadcast, HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates , the web, new media and feature films, including the following 1998 Visual Effects Academy Awards nominees "Titanic", "The Lost World: Jurassic Park
Jurassic Park is a techno-thriller novel written by Michael Crichton that was published in 1990. " and "Starship Troopers"; as well as previous Academy Award winners "Independence Day" and "Forrest Gump". -0- Except for the factual information contained herein, certain of the matters discussed in this news release including statements regarding its business and growth strategy constitute forward looking statements that involve risks and uncertainties. Actual results may vary significantly based on a number of factors, including the integration of the products and operations of recently acquired companies into the Company's business; market acceptance of recently acquired companies' products; the timely development and market acceptance of new products and the potential decrease of existing product sales as a result; the impact of competitive products and pricing; the effective management of the Company's distribution channels; the timely development and release of products by strategic suppliers; and the other risks detailed in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 1997, particularly in the section entitled Certain Factors that May Affect Future Results. -0- For further information, contact Discreet Logic Corporate Headquarters: 10 Duke, Montreal, Quebec, Canada H3C 2L7; Tel: 514/393-1616; Fax: 514/393-0110; E-mail: info@discreet.com; Web; www.discreet.com. -0- Note to Editors: Discreet Logic and its products are trademarks of Discreet Logic Inc. CONTACT: Discreet Logic, Montreal Emma Shield, 514/954-7151 or Fleishman-Hillard (Discreet Logic analysts/investors) Anne Lachance, 416/214-0701 (Toronto) Thomas Smith Thomas Smith may refer to: U.S. congressmen:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) |
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